InvestorQ : Can you tell me about the INVIT that Power Grid is planning to monetize its assets?
sara Kunju made post

Can you tell me about the INVIT that Power Grid is planning to monetize its assets?

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Mary Joseph answered.
2 weeks ago
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Power Grid Corporation will officially launch its INVIT on 29 April. This will be the first time that the government will be using the INVIT to monetize cash flows of PSU properties. This will be only the third INVIT in India and the second in the power sector. The total INVIT will consist of Rs.4,994 crore raised by way of a fresh issuance plus an offer for sale or OFS. For the INVIT, Power Grid has offered 5 assets with an enterprise value of Rs.10,384 crore.

The INVIT offer will close on 05 May. The Power Grid INVIT will be more of an attempt to test waters and if successful, the government will also go ahead and monetize the NHAI assets. The gross block value of the assets monetized by Power Grid will be around Rs.7,000 crore. The assets are mainly in the form of High Voltage Transmission lines and substations. PGCIL will also look to monetize more such assets in the future.

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